counterfeit cashiers check

[q1wpx]

What is the name of your state? Florida

I accepted a cashiers check for payment of merchandise. My bank later reversed the check and charged my account stating that the check was determined to be counterfeit. Am I liable for the loss on this transaction or does the bank have any liability as they accepted the check.

 

[rmet4nzkx]

Do a search of cashiers check and you will discover this is a common scam. You are responsible for the check not the bank. Were you asked to return the excess to the sender by western union? Were they from out of the country?

You can report it to the FBI along with your documentaiton and emails etc.

 

[JETX]

Am I liable for the loss on this transaction

Yep.

or does the bank have any liability as they accepted the check.

Nope.

You appear to be the victim of a fairly common stolen or counterfeit cashiers check scam.

 

[LaLuna Girl]

Counterfeit Cashiers Check

You also have the capability of verifying the funds are legitimate. Just call the toll free number on the cashier check or call the bank that issued the check. It is a very simple matter for them to check. May take a little time on the phone, but it's well worth it to not lose money on a counterfeit !!!

 

[JETX]

You also have the capability of verifying the funds are legitimate. Just call the toll free number on the cashier check or call the bank that issued the check. It is a very simple matter for them to check. May take a little time on the phone, but it's well worth it to not lose money on a counterfeit !!!

And of course, that is NOT true.
The bank can verify "over the phone" until the cows come home and it means absolutely NOTHING (and can you imagine saying "But, I talked with Bob at the bank and he SAID it was good!!"!!).
The ONLY way to assure that a deposited check from another bank is good is to wait a week or two after depositing.... and even then you need to confirm the funds are available with YOUR bank!!

 

[HomeGuru]

And of course, that is NOT true.
The bank can verify "over the phone" until the cows come home and it means absolutely NOTHING (and can you imagine saying "But, I talked with Bob at the bank and he SAID it was good!!"!!).


**A: are you calling Bob the bank janitor a liar?

 

[BelizeBreeze]

You also have the capability of verifying the funds are legitimate. Just call the toll free number on the cashier check or call the bank that issued the check. It is a very simple matter for them to check. May take a little time on the phone, but it's well worth it to not lose money on a counterfeit !!!

This answer made me chuckle. Sorry LaLuna but Jet is sooooo right (as if he needed me to tell him that) And a good object less for everyone.

Parmalat in Europe is one of the world's largest CPA firms. As a matter of business their accountants handle Billions of dollars for their clients. In the mothly process of confirming funds on hand for tax purposes, the accountants routinely send out paper confirmation requests which are received by the bank, reconcilled against the account and returned.

In a recent filing with the European Community Banking Commission the largest bank fraud case was filed against not only Parmalat but one of it's accountants with a $3 billion loss to the company and untold fines and censure.

It seems the accountant was sending the confirmation requests to his uncle who was acting as the bank, who then 'confirmed' the funds and sent the paperwork back, billing the company for services rendered. When the company called the number on the paperwork, the uncle answered as the 'bank' and confirmed the transactions.

It will go down as the largest bank fraud in world history when the fallout is over.